Changes in Cyprus's Banking System: Acquisitions and Stabilization
March 29, 2026
The banking system in Cyprus is undergoing significant changes, with Bank of Cyprus acquiring a portfolio of loans and deposits from Cyprus Development Bank. Non-systemic banks, such as Astrobank and CDB Bank, are gradually disappearing through acquisitions by systemic banks. Systemic banks, which are subject to stricter supervision, are showing profitability and growth. However, non-systemic banks have more flexibility in financing. The banking sector is showing signs of stability and growth in Cyprus.